Westwood Holdings Group Inc. Acquires 31,104 Shares of Teleflex Incorporated (NYSE:TFX)

Westwood Holdings Group Inc. raised its holdings in Teleflex Incorporated (NYSE:TFX) by 54.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,329 shares of the medical technology company’s stock after acquiring an additional 31,104 shares during the period. Westwood Holdings Group Inc. owned about 0.19% of Teleflex worth $18,578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in Teleflex in the first quarter valued at about $31,000. Pineridge Advisors LLC acquired a new stake in shares of Teleflex during the fourth quarter valued at about $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex during the second quarter valued at about $42,000. Versant Capital Management Inc boosted its stake in shares of Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 207 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares in the company, valued at $1,313,159.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on TFX shares. Truist Financial lifted their price target on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada lifted their price objective on Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens lifted their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

Teleflex Price Performance

Shares of TFX opened at $242.50 on Friday. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The business’s 50 day moving average price is $235.35 and its two-hundred day moving average price is $220.51. The firm has a market cap of $11.42 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. During the same period in the previous year, the firm earned $3.41 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. Teleflex’s dividend payout ratio is 21.83%.

About Teleflex

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.